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काठमाडौंमा वायुको गुणस्तर: ६५

'You have to pay after taking a loan, there is no excuse'

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Nari Masik, co-publication of Kantipur Publications, speaking at the fourth session of the Nirbhik Nari program organized in Biratnagar on Wednesday, 'Microfinance made entrepreneurs, non-payment of loans caused problems', the participants said that microfinance has helped poor women in rural areas to become self-reliant.

'You have to pay after taking a loan, there is no excuse'

The participants have claimed that there are many problems due to the transformation of microfinance from a social institution to a financial institution.

'After the transformation from NGO to 'D' class financial institution, there has been a lot of confusion,' said Sanjay Mandal, CEO of Jeevan Vikas Microfinance. That has also caused a lot of problems.' Similarly, he said that microfinance has helped poor women in rural areas to become self-employed. He claimed that more than 90 percent of women participate in microfinance across the country.

Nashima Khatun, a microfinance borrower and a successful small businessman, said that her financial status has changed due to microfinance loans. "I took 8,000 first and my husband started the Kawadi business." I paid that amount after one year and later took 20,000 . That's how my ability increased,' she said, 'I also taught my children without taking loans. Now they are also doing their own business.'

Mandal said that many problems have been created after the transformation from a social institution to a financial institution, because microfinance first gives women skill-based training and then invests. According to Ramdayal Rajwanshi, CEO of Forward Microfinance, there is a problem in microfinance now due to a lack of understanding. 'Microfinance is a small bank . It is a financial institution according to law and not a social institution. As microfinance is also registered under the Banking and Finance Act, it also works like a commercial bank,' he said, 'microfinance is established with the capital of individuals or investors. But microfinance goes to rural areas and invests loans by going door-to-door rather than unsecured rural people . Which has invested in a very risky agricultural sector . Microfinance has created a habit of saving in women . Women have saved billions of rupees.'

Similarly, economist Bheshprasad Dhamala also said that the problem started when Mohammad Yunus tried to transform the microfinance program established for the upliftment of poor farmers in the rural areas into a profitable program. 'Now it is operating as a financial institution, so it has become profitable. It is operated by focusing on the poor,' he said, '80 percent of women participate in microfinance in the world.'

According to all the participants, it is important to clearly understand that after taking a loan from microfinance or any financial institution, it is important for everyone to understand . After taking a loan, you have to pay the loan. The money loaned by microfinance belongs to the individual. Therefore, the organization cannot waive it,' Mandal said, 'so it is not possible for any organization to waive the loan. The finance minister of the government has already said that the loan cannot be waived. So embarking on a campaign to not pay the debt is wrong in itself . Whoever, despite having the ability, has not paid the loan under the illusion that it will be forgiven now, is going to have a big problem in the future.'

Similarly, according to CEO Rajwanshi, the movement started to waive off loans has been going on for more than 2 years and it is causing problems to microfinance . 'If microfinance is closed due to such an unwanted movement, only the poor will have a problem . The government should now also talk about loan waiver,' he said, 'because this is not correct at all . If microfinance is closed, the amount of 6 million depositors will be at risk.' According to

economist Dhamala, loan loss is not possible in any way . "Regarding the problems of microfinance, the Rashtra Bank as well as the institution itself should be solved and improved." Other countries of the world have also gone through this kind of problem. We have to move forward by adopting the solutions for this,' he said, 'We cannot even think about the debt waiver.'

Srijan Bastola of Nepal Rastra Bank's microfinance institution supervision department said that as credit in microfinance has expanded, there has also been an increase in cases of abuse. 'Indebtedness increased due to indiscriminate lending . Unhealthy competition also increased. Random loans expanded, but due to lack of monitoring, they turned into bad loans,' she said. In particular, this is an area that needs to be regulated. But in the name of increasing access to finance, the National Bank had to intervene after it expanded a lot.'

To solve the current problem, she also said that the National Bank is strictly monitoring to prevent loan investment without obtaining information from the credit information center.

प्रकाशित : फाल्गुन २३, २०८० १९:१३
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